Question: 1 . You received $ 7 , 5 0 0 in inheritance. A local credit union offers a 1 0 - year certificate of deposit

1. You received $7,500 in inheritance. A local credit union offers a 10-year certificate of deposit (CD) that earns 4.25% in simple interest annually. During the 10-year term, you cannot withdraw your investment early without receiving a financial penalty. (10 points total)
a. If you invest the $7,500 inheritance, how much money would you earn in simple interest from the CD when it matures (after 10 years)? Round your answer to the nearest cent.
b. If you invest the $7,500, how much money would you have in total from the CD when it matures?
c. If you withdraw your investment before the end of the 10-year term, you will be penalized a half of a years worth of interest. How much money would the $7,500 CD be worth if you withdrew your money exactly 4 years into the investment? Round your answer to the nearest cent. [

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